Understanding Forex Trading
Forex trading is an enticing investment opportunity for traders and investors around the world. Volume is a key element of understanding how trades and investments work, and understanding price movements and the behavior of investors. A bar chart is a visual representation of price information over time that is an essential tool for helping traders analyze the market accurately. Knowing how and why my price bar aligns on the left (or right) of the chart can assist traders in making more informed decisions.
An Overview of the bar Forex Chart
The bar forex chart is a visual representation of price information over a certain period of time. Each bar is composed of four elements, namely the opening, closing, high, and low prices; the differences between these elements provide insight into the overall level of volatility during the particular period. Bar charts are typically the standard tool used by most traders, as this format provides an easily understandable plot of the price movements over a period of time. When looking at a bar forex chart, it is important to note that the bars are typically aligned on the left or right of the chart.
Why Is My Price Bar on the Left Forex?
The reason why my price bar might be on the left of the forex chart is that this is the default setting for most chart types. When certain tools are being used, such as a line chart or a candle chart, the opposite might be true, and the bar may appear on the right instead. Another factor that could influence the position of the bar is how the data is being inputted – if the low price is entered first, the bar could be set to the left of the chart.
Familiarizing oneself with the different chart types and ways of inputting data can help traders gain valuable insight into the market’s movements. Understanding why my price bar is on the left is the key to being able to make informed decisions on investments and increase potential profits.
What is TradingView?
TradingView is a trading platform popularly used by investors and traders to track financial markets. As an online financial application, it provides charting and analytical tools powered by an impressive collection of data sources that include real-time and historical data on stocks, commodities, currencies, CFDs, international indices, and options. Investors also have the ability to perform technical analysis and pattern recognition with TradingView. On top of that, the platform provides an efficient social network that allows users to discuss stock, ETF, Forex, and cryptocurrency market news with traders all over the world.
Why is the Price Bar on the Left in TradingView?
When you load up the TradingView platform, the price bar will be located on the left side of the screen. This is intentional and is designed to provide the user with an easier view of the current prices in the markets that they are observing. By having the price bar located on the left side, it helps traders to quickly identify the opening and closing prices of the given asset that they are tracking. This makes it easier for them to take quick action in the event of a significant price movement or to spot potential trading opportunities.
How to Fix the Width of the Right (and Left) Price Scales in TradingView?
If you would like to adjust the width of the right (and left) price scales in the TradingView platform, simply click on the ‘Price Scale’ icon located at the bottom right corner of the chart. This will open up the Price Scale Settings window, where you can customize the appearance of the price scale in accordance with your requirements. Here, you can adjust the maximum and minimum range of the scale as well as set the width of the right (and left) price scales to a specific number of pixels. For example, you can type in a number of 50 pixels to the right price scale which will effectively fix the width of this scale to 50 pixels.
Once you have adjusted the Price Scale Settings to your liking, you can click the ‘Apply’ button and this will immediately apply the new settings to your TradingView chart, allowing you to take full advantage of your customized price scale. With the right (and left) price scales now adjusted to the appropriate sizing, you can now track the markets at a glance with an easier to read display.